Istithmar World sells 6.89% stake in SpiceJet

Dubai-based investment house Istithmar World PJSC on Tuesday offloaded 6.89 per cent stake in the low cost carrier SpiceJet for Rs 118.54 crore, through an open market transaction.
Istithmar World PJSC has sold 2.21 crore shares, representing 6.89 per cent stake in Spicejet at Rs 53.55 per share, aggregating to Rs 118.54 crore, according to the bulk deal data available on the Bombay Stock Exchange.
In February, Istithmar had sold nearly 14 per cent stake in the airline for Rs 164 crore.
Last month, media magnate Kalanithi Maran’s KAL Airways had acquired nearly 37.7 per cent stake in SpiceJet for about Rs 740 crore from investors Wilbur Ross and B. Kansagara.
Mr. Maran had then launched an open offer to acquire an additional 20 per cent in the no-frills carrier for Rs 57.76 a share.
06/07/10 PTI/The Hindu

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Categories: Foreign Jul 2010, SpiceJet Jul 2010, Sun Airways Jun 2010